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Home Q&A Forum Can I update a business purchase agreement post-signing?

Contracts

Business Purchase Agreement

New York

Asked on Oct 17, 2023

Can I update a business purchase agreement post-signing?

I recently purchased a business and signed a purchase agreement. However, I have since discovered that the agreement does not include certain terms that I believe are important to the transaction. I would like to know if it is possible to update the agreement post-signing to include these additional terms.

1 Attorney answer

Answer

Contracts

New York

Answered 270 days ago

Damien B.

ContractsCounsel verified

Business Lawyer
Licensed in New York
Free Consultation

Hello. You mention updating a purchase agreement. It sounds like your goal is to modify the agreement. And generally, the agreement itself would set forth how modifications can occur. Usually, modifications must be in writing upon the consent of the parties to the agreement. Therefore, if one party wants to modify the agreement because that party wants to include additional terms, the parties to the original agreement can enter into a written modification or addendum to the agreement.

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